3 ms·
Yeah, new bondholders profiting from the higher rates. However, those bondholders represent a minority of the debt. Roughly speaking, new borrowing is 4-5% of
by spacebanana7 3y ago
Yeah, new bondholders profiting from the higher rates.
However, those bondholders represent a minority of the debt. Roughly speaking, new borrowing is 4-5% of GDP whilst old debt is over 100% [1].
[1] https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicspending/bulletins/ukgovernmentdebtanddeficitforeurostatmaast/september2022 https://www.ons.gov.uk/economy/governmentpublicsectorandtaxe...